Offshore Corporation

Offshore Formation

Anguilla Corporation

Belize Corporation

Dominica Corporation

Panama Corporation

Panama corporations are regarded as one of the best offshore companies that can be used to protect assets and lighten the tax burden. As an offshore jurisdiction, Panama is increasingly in demand because of the country’s strong and progressive legislation for Panama corporations and their incorporation. A Panama corporation can yield many benefits for the international investor.

Panama corporations are juridical persons and are thus able to operate as any normal individual. A Panama company has the power to sign and write up contracts, hire and fire through its board, sue, undertake legal proceedings, trade securities and invest accordingly, in pursuit of furthering the corporation’s interests. Panama corporations are all required to have memorandums so that the basic details of the corporation can be established from the onset and that all officers, directors and shareholders are aware of the guidelines with respect to shares, management and other duties delegated to each member of the Panama corporation, as well as the regulations pertaining to the transfer, sale or purchase of shares, the appointment and dismissal of directors and officers, rights and the powers that each member exercises. Other regulations and standards that the members of the Panama corporation wish to establish should be stipulated in the memorandum as clearly as possible, since this avoids confusions and gives all members direction in terms of how or how not to conduct themselves in carrying out the business of the Panama corporation.

Accompanied with an offshore bank account in Panama or in any other country, a Panama corporation can produce satisfactory results. Asset protection in particular, is one of the key strengths of the Panama corporation because of Panama’s strong privacy laws for offshore entities, regulations and standards established for the administration or Panama corporations and information sharing.

A Panama corporation is considered a nonresident entity and is therefore not liable to any local taxation. This creates the possibility of operating at lower operational costs and maximizing profits because of the lowered tax burden. The income of a Panama corporation is not sourced within Panama, so tax on income, interests, dividends, profits and capital gains is not imposed on any of the wealth that a Panama corporation generates. This means that to maintain this tax exempt status, a Panama corporation must with only foreign residents and companies outside of Panama, but, holding a Panama offshore bank account or doing professional business with local professionals like lawyers and financial professionals is not considered to be doing business in Panama.

A Panama corporation must be incorporated only through a local notary public or attorney who is licensed by the Panama government to collaborate with international customers as an offshore service provider. Agents in Panama facilitate the incorporation process and ensure that all legal procedures and documentation are in order. Panama corporations are registered at the companies’ registry where a registration number is issued and recorded accordingly. The incorporation procedure for Panama corporations is efficient and reliable, and with the online registration system, agents for Panama corporations are able to quickly check whether names are available, upload and download documents and forms. This facilitates the incorporation process for the Panama corporation’s members and sees to it that the service is modern, quick and efficient.